Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division raised its holdings in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 27.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,091 shares of the real estate investment trust’s stock after buying an additional 1,084 shares during the period. Moody National Bank Trust Division’s holdings in Simon Property Group were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SPG. Tradition Wealth Management LLC acquired a new stake in Simon Property Group in the first quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new stake in Simon Property Group in the first quarter valued at $29,000. Tyler Stone Wealth Management acquired a new stake in Simon Property Group in the fourth quarter valued at $38,000. SOA Wealth Advisors LLC. increased its position in shares of Simon Property Group by 2,000.0% during the first quarter. SOA Wealth Advisors LLC. now owns 294 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 280 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Simon Property Group during the first quarter worth about $38,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of SPG opened at $99.70 on Monday. Simon Property Group, Inc. has a twelve month low of $93.06 and a twelve month high of $171.12. The stock’s 50 day moving average is $104.74 and its two-hundred day moving average is $113.02. The firm has a market capitalization of $34.19 billion, a PE ratio of 15.55, a P/E/G ratio of 1.88 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 7.13.

Simon Property Group (NYSE:SPGGet Rating) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company earned $2.92 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts anticipate that Simon Property Group, Inc. will post 11.66 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date of this dividend is Thursday, September 8th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.70. Simon Property Group’s payout ratio is currently 109.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley cut their target price on Simon Property Group from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, August 29th. Deutsche Bank Aktiengesellschaft cut their target price on Simon Property Group from $173.00 to $129.00 in a research report on Monday, July 18th. Compass Point cut their target price on Simon Property Group from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Truist Financial cut their target price on Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, August 15th. Finally, UBS Group lifted their target price on Simon Property Group from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.29.

About Simon Property Group

(Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Further Reading

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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